Actually film is one of the areas in which Kodak makes money. While the Kodak board is perhaps the worst corporate board in the known world, if they were to drop one of the products that actually brought money into the company they would deserve an evil fate.

We don't know that. How Kodak internally cost-shifts and subsidizes is referenced in analyst concerns. What we do know is that Kodak and morin picture film is the make or break, and that cinema is increasingly digital. That's not to say inevitable as the entrenched industry has some advantages.

Still, it is hard to manage any company that loses 90% of it's core biz in a decade. The problem with Kodak is not the choice to be a digital player, but the execution. If there is an asset sale the film unit may not survive outside of a comprehensive Kodak environment of retained and sustained technical knowledge and new capital. Without new capital, they may be forced to shut down film. I am right now involved in an industrial deleverage where a very profitable and newly invested product line is dragged down by another product line so much so that both are likely to perish because of a lac of capital. All the engineers are already leaving the ship. It's very sad.